Posted by Amy Carbone on Mar 20, 2023 9:00:00 AM
You work hard to ensure your dental practice is successful, but unforeseen events can occur at any time and you need to be prepared.
If a malpractice claim occurs due to services that you provide, you have professional and entity malpractice coverage to protect you and your practice. For instances where an employee gets injured at work, you have worker’s compensation coverage.
But what about unrelated incidents?
General business liability insurance for dentists helps protect your practice from things that occur outside of your services.
What Is General Liability Insurance for Dentists?
Business liability insurance — also known as general liability insurance —helps mitigate the financial risks associated with running a business, such as an injured patient's medical expenses that were unrelated to malpractice, necessary repairs from natural disasters, and more.
This type of insurance coverage fills in the gaps of where your malpractice and other business insurance coverages end. This is typically a component of a business owner's policy (BOP), which is a broad form policy that combines several business coverages into one policy.
What Business Liability Risks Could Your Practice Face?
There are a number of claims that can be brought against your practice. Some of these claims could include:
- A patient injury that occurred for a reason other than malpractice, such as a slip and fall on your property.
- Property damage caused by a patient.
- Business litigation claims, such as copyright infringement issues.
With general liability insurance, you may be in a position to more easily recover from financial losses when these issues occur.
Why Is This Coverage Vital to a Business Owner’s Policy?
Business liability insurance may cover certain claims of injury or damage caused by others, you, or your employees that are not covered in other insurance policies. This can protect your practice from paying the costs of related legal fees, can help you qualify for certain leases and contracts, and more.
This can give you peace of mind by knowing that your business has coverage and may be protected from these unexpected situations.
When Could I Use General Liability Coverage?
There are several instances when general liability coverage may benefit your business, including when:
- Applying for financing to open or improve your practice.
- Signing a lease agreement for your office space.
- Managing legal fees from a business owner’s policy coverage claim.
Whether you’re looking to secure funding for your practice or resolve legal fees from a related claim, general liability coverage can protect your business from financial stress.
Take Your Coverage to the Next Level
General liability insurance and a number of other coverage options are typically available through a BOP policy, often at a more cost-effective rate. Business owner’s protection is like homeowner’s insurance for your practice, as it combines a number of coverages that are crucial to your business.
In order to get the coverage you need, work with an insurance provider that understands your career as a dental professional. Learn how to protect your career with business owner’s protection for dentists today.
About Treloar & Heisel
Treloar & Heisel, an EPIC Company, is a financial services provider to dental and medical professionals across the country. Our insurance and wealth management divisions assist thousands of clients from residency through retirement. We strive to deliver the highest level of service with custom-tailored advice and a strong national network.
